Tax code

The U.S. Treasury Department is considering extending the 2019 tax-filing deadline beyond April 15 to provide relief from economic disruption caused by the coronavirus outbreak, according to two people familiar with the matter.

One way for C corporations to reduce taxable income is to utilize an interest charge – domestic international sales corporation (IC-DISC). However, when dealing with C corps, it is imperative the IC-DISC’s ownership structure is correctly established at the onset.

Organizations need to get serious about following government rules from the very beginning.

Grant Thornton compares the contenders’ proposals in four categories.

Comparing the tax platforms of the Democratic candidates.

Several recent tax law changes promise to help religious groups, houses of worship, charities, private foundations, utilities and other tax-exempt organizations, according to the Internal Revenue Service.

A drafting error in the Tax Cuts and Jobs Act inadvertently removed Qualified Improvement Property from bonus eligible property. This was a mistake and a technical correction was expected. However, none was ever made.

The two appropriations bills extend government funding while also dealing with several of the tax extender provisions and repealing some Obamacare taxes.

The Global Intangible Low Taxed Income has created a lot of challenges for taxpayers, since it was instituted by the Tax Cuts and Jobs Act of 2017.

Section 1031 exchanges involving related parties present some of the most complex problems in tax law.